Virgin looks at float of its online booking service

Virgin is considering a stock market flotation of its online rail booking service, Trainline. The company has hired the investment banks Investec and ABN Amro to advise on a float as an alternative to a possible sale. Virgin had earlier confirmed that it is exploring a sale. The company is keen to exploit the growing valuations ascribed to online firms that has been driven by the widespread use of broadband. Trainline is expected to make £12m in profit this year. Virgin owns 80.5% of the business, National Express has a 14% holding and Stagecoach the remaining 5.5%.